In partnership with the Retailer’s Association of India, Jio launched its app based solution for GST compliance. The app promises a suite of solutions targeted at ensuring compliance under the new tax regime in a cost effective and efficient manner.
The launch of the much awaited GST regime has prompted several accounting and IT companies to introduce a slew of software solutions. Besides the top IT companies like SAP, Infosys, Wipro and TCS launching GST service and accounting software, there is a slew of offerings from smaller accounting firms as well as big consulting houses. The industry is busying filling the demand side gap. While Cleartax, CBEC, PwC, Deloitte have launched guidance apps to take the business owners through the registration and filing process; Tally is offering registrations, returns filing and refunds for users. Based on the sophistication of the software and the seniority of the player in the market, there are huge price variations in the products. Further, the CEO of a technology company in his article on CXOtoday.com, expresses concern about the new compliance system excluding a vast majority of the population still not on board the digital revolution sweeping the country.
Tapping into the mindset of the average small or mid sized business owner, the JioGST app offers a complete range of solutions which go beyond tax filing.
- Training in the form of knowledge series to familiarise oneself with GST: The knowledge module compliments this solution suite by allowing access to web knowledge series and industry specific seminars. The app also helps with discovering new business prospects
- 3 step process for filing returns: Once the user has scanned his invoices using his smartphone, the app auto-populates purchase summary from the GSTN database along with reconciling purchase and sale with minimal manual input. Whether the user is mandated to file monthly or quarterly returns, the app provides the option of composition or regular filing; the user must simple esign and file his returns with minimum hassle
- Automated billing from a mobile device: As an app based solution, the user can simply scan invoices with his smartphone. A computer or a separate billing software won’t be required. As a special offer, this service will be provided to the users free of cost for the first year
- A Practo-style database of JioGST empanelled tax practitioners for when you need further assistance: For mid sized businesses, the app also acts as aggregator for authorised tax professionals nearby.
- JioFi device enabled with a data plan along with access to expert tax consultants all over India, complimentary for the first year: In keeping with the Prime Minister’s digitisation agenda, the GST reform mandates that returns be filed online only. While the dream of digitising India is still underway, JioGST’s mobile first approach along with complimentary internet access will prove beneficial for the SME and MSME business owners
The JioGST app offers a combination of both learning as well as accounting services. While the government’s twitter handle for GST has already been flooded with concerns from anxious citizens, JioGST’s provision of aggregating tax experts from all over the country on its app could be key to its success in the market. With regards to the price range, the JioGST software is the most economical to invest in right now. In addition, the data plan provides the much needed internet connectivity to complete the process of filing GST returns.
JioGST is the first of its kind accounting service software from Jio. However, given the features of its unique offering, JioGST is the only product farsighted enough to include billing, learning, network of tax professionals as well as internet connectivity at a nominal cost. With its promise of being a one stop solution for the average taxpayer in the country, the JioGST app already seems to be a winner.